5 Our Finances
What’s in the Financial Mix?
There are four key parts in our financial mix, and they are closely linked – what happens with one influences the others. Council can decide how much we spend, how much we rate for and how much we borrow. How much we receive is outside of our direct control, but it is an important part of the mix.
Limits on Rates Increases
We expect our overall rates to increase around 3.39% on average during the next 10 years. We have self-imposed limit not to increase overall rates by more than 4% per annum. Our forecast at the moment is that this limit may be in jeopardy in some years of this strategy. There is a lot of uncertainty and factors outside our control. We’re proposing to be flexible and adaptive where part of this approach will involve reviewing overall rates when we updating our financials on an annual basis and look at our mix to ensure we keep our overall rates increase below 4%.
Check out the pages from the Consultation Document and the accompanying strategy and financial statements for the details of our plans for our finances.
Our Draft Financial Strategy PDF 320KB
Our Draft Financial Statements. PDF 231KB